South Dakota Investment Council raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 579,068 shares of the e-commerce giant’s stock after buying an additional 25,584 shares during the period. Amazon.com accounts for about 2.3% of South Dakota Investment Council’s portfolio, making the stock its 7th largest position. South Dakota Investment Council’s holdings in Amazon.com were worth $120,602,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in AMZN. MilWealth Group LLC raised its stake in Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Amazon.com in the fourth quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership boosted its position in Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 180 shares during the last quarter. Fairway Wealth LLC grew its stake in Amazon.com by 95.6% in the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. lifted its stake in shares of Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after purchasing an additional 107 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.
Amazon.com Price Performance
Shares of AMZN stock opened at $278.09 on Tuesday. The company has a market capitalization of $3.00 trillion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.45. The firm has a fifty day simple moving average of $246.69 and a 200-day simple moving average of $237.78. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20.
Key Stories Impacting Amazon.com
Here are the key news stories impacting Amazon.com this week:
- Positive Sentiment: Amazon’s recent earnings breakout is attracting continued investor interest. Renewed AWS growth and accelerating AI demand could support earnings momentum and a post-earnings drift higher. Amazon: A Post-Earnings Drift Candidate
- Positive Sentiment: Analysts and market commentators point to accelerating cloud revenue as a potential long-term driver that could help Amazon grow beyond its recently achieved $3 trillion market capitalization. Amazon Just Joined the $3 Trillion Club
- Positive Sentiment: A reported institutional and retail “Power Inflow” alert provided a short-term bullish trading signal, helping reinforce buying momentum in AMZN. Amazon Shares Up After Key Trading Signal
- Positive Sentiment: Amazon’s Zoox robotaxi subsidiary began paid rides in Las Vegas after receiving a federal commercial exemption, marking a meaningful commercialization milestone for the company’s autonomous-vehicle investment. Zoox to Begin Paid Rides
- Positive Sentiment: Amazon Pharmacy is offering eligible Medicare patients access to certain weight-loss drugs for $50 per month, potentially expanding customer engagement and the company’s healthcare presence. Amazon Pharmacy Rolls Out Low-Cost Weight-Loss Drugs
Insiders Place Their Bets
In related news, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares of the company’s stock, valued at $3,729,480.60. This represents a 52.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,370 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.39, for a total transaction of $1,671,424.30. Following the transaction, the chief executive officer directly owned 486,527 shares of the company’s stock, valued at approximately $127,659,819.53. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 77,867 shares of company stock valued at $20,532,092. Insiders own 8.90% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on AMZN shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $320.00 target price (up from $315.00) on shares of Amazon.com in a research note on Friday, July 31st. Royal Bank Of Canada lifted their price target on Amazon.com from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and set a $350.00 price objective (up from $340.00) on shares of Amazon.com in a research note on Friday, July 31st. Morgan Stanley reissued an “overweight” rating and issued a $335.00 target price (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Finally, Guggenheim restated a “buy” rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $322.56.
About Amazon.com
Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.
Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.
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